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Recession is a term with a very defined meaning and that meaning does not include employment at all.
by mattmaroon 1y ago
Recession is a term with a very defined meaning and that meaning does not include employment at all.
- whobre 1y agoRecession is officially whatever NBER says it is and it doesn’t have a well defined meaning.
- kasey_junk 1y agoAlso it’s by design a trailing designation. You will be in (and possibly out) of a recession before NBER declares one, by definition.
- MangoToupe 1y agoYes, more accurately we're in the middle of an extremely shitty economy for everyone but stockholders
- carlosjobim 1y agoWe've been in a global economic depression for more than a decade already.
- jalapenos 1y agoDoes feel like that
- aesh2Xa1 1y agoIt does include employment. It's discussed in terms of "employment" or "jobs" thresholds and trends. https://en.wikipedia.org/wiki/Recession https://en.wikipedia.org/wiki/Recession > In the United States, a recession is defined as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."[4] The European Union has adopted a similar definition.[5][6]
- _fizz_buzz_ 1y agoThis is actually a good read: https://www.nber.org/research/business-cycle-dating https://www.nber.org/research/business-cycle-dating Employment is an important indicator according NBER.